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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: jlallen who wrote (14745)	7/25/1998 2:31:00 PM
From: mark silvers	Read Replies (3) \| Respond to of 20681

John I disagree with a lot of what you said. LeDoux is rerunning tests. Given the importance of the results of the tests, I think rushing them is the worst of all possible options. I should think Naxos would tell them to take their time and make sure they get them right, and to know exactly why the tests come out postive or negative. The only upside to rushing them is to know a little faster, and for a quicker up or down move in the stock price. That move will come either way, as soon as the results are known, so the only real reason is to know what is going on a little quicker. I would personally prefer they get all the information exactly right. << That's a continuing problem for this company and it will be as long as Kemp sits as CEO.>> In excess of 20 milion shares disagree with you. <<You may have noticed a trend on Wall Street where executive compensation is increasingly being tied to company performance and hence stock price. There's a reason. It works.>> The reason it is happening, is because upper management has figured out that in a bull market they can make tens of millions of dollars more for themselves this way, plain and simple. We had a CEO of this company that you detested that owned in excess of 4 million shares. That is not to say, that I wouldnt prefer that Sid owned more shares. The fact of the matter is that Sid is only a tempoary CEO, and doesnt want the job on a ongoing basis. He has told me that himself. <<Frankly, I'm just sick to death of hearing "it can't be done", especially when no one tries in the first place. >> You dont know that no one has tried in the first place. It is ludicrous and far fetched to believe that they havent tried . It was rumored that ledoux has written a letter to naxos stating their position relevant to the prior results. I have no idea what that position is, only that the rumor states that testing is ongoing. Perhaps someone at the AGM heard what the status is and can upgrade the rumor to fact, or squash it altogether. However, you saying no attempt has been made, holds as much water as my saying they are working day or night and are n the cusp of resolving it. Both are somewhat meaningless. mark